Re: Where is due process you HOA Bolsheviks.

Re: Where is due process you HOA Bolsheviks.

  Home | Guides | Register Now! | Search | About
 misc.consumers.house.homeowner-assn    Post an article   get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content
 Re: Where is due process you HOA Bolsheviks. Steve Cerruti Reply Send to a Friend   Print
 
Subject Author Date
Where is due process you HOA Bolsheviks. Subcomandante 12-21-2005
Suing for return of the increase in the assessment since the board had
no authority to increase the assessment at this time without member
approval.

The law was passed to force association boards to do business
correctly. That is to create budgets that accurately reflect the costs
of the association and to compute assessments accordingly. If the
association needs a mid-term assessment increase to cover an unexpected
increase in operating costs there is a process by which it can be
accomplished but it has to be transparent and approved by the
membership.

Operating outside of those terms says that the association is being
managed poorly and the need for the assessment is suspect. It should
immediately trigger a full audit of the association books to determine
why the board has failed to create a budget that works, to determine if
the assessment is necessary and to ensure that no hanky-panky is going
on.

The size of the increase is irrelevant, the point is that the member
has a right to know how their money is being spent. That is
accomplished by distributing the budget. How can a homeowner know where
the money goes for an assessment increase that isn't covered in the
budget? It isn't too much to ask to have the board get member approval.



other useful resources:
Government National Mortgage Association - Ginnie Mae
The National Home Equity Mortgage Association
Fannie Mae Mortgage
Movie-Corner.com Movie Blog